and I might also add . . . - Posted by Steve-WA
Posted by Steve-WA on February 20, 2005 at 10:15:18:
comments to your comments:
OK, Steve. You’ve listed
(1)Raid parents savings account,
******************* BTW, this is the kind of money that people will offer you - I knew nothing of this savings - so your choice of the word “raid” I find completely offensive and out of context.
(2)Loan secured by 401K, (is that legal? It isn’t with IRAs.)
***********Uh, yes, it is legal. Ask.
(3)Credit cards, (I have one, max $1,000 on cash advances.)
***************OK, so get some more. What % do you pay on cash advances? Can you make more than that on your investment? This is a limitiation YOU are placing on yourself.
(4)Second on the house, (Wife has to sign, BIG problem.)
*****************Really? Why is that? This is the number one opportunity for GOOD debt in America. Your wife is against it? You guys need to research creative investing a little bit more. It might NOT be for you.
(5)Friends or relatives willing to take a chance on you,
(6)Hard money lenders.
Plus someone said that I could surely pull out at least $2,000 from my
own pocket.
To my mind none of these constitute “money that follows.”
******************There it is. “To my mind. . .” You have sources. Your responses seem to show that you may lack the willingness to use them, to take risks, to make mistakes. That is necessary to succeed. Ask anyone that has.
Or not.